IAS 20 — Accounting for Government Grants and Disclosure of Government Assistance
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Effective date: |
First effective as Canadian GAAP under Part I for interim and annual financial statements relating to fiscal years beginning on or after January 1, 2011. Earlier application of Part I was permitted. |
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Published by the IASB: |
April 1983 |
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Included in Part I of CPA Canada Handbook: |
January 2010 |
Overview
IAS 20 Accounting for Government Grants and Disclosure of Government Assistance outlines how to account for government grants and other assistance. Government grants are recognized in profit or loss on a systematic basis over the periods in which the entity recognizes expenses for the related costs for which the grants are intended to compensate, which in the case of grants related to assets requires setting up the grant as deferred income or deducting it from the carrying amount of the asset.
History of IAS 20
The following table shows the history of this standard subsequent to the adoption of IFRS in Canada.
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Date1 |
Development |
Comments |
Included in Part I of the CPA Canada Handbook2 |
|
January 2010 |
Part I of the CPA Canada Handbook issued |
Effective for interim and annual financial statements relating to fiscal years beginning on or after January 1, 2011. Earlier application is permitted. |
January 2010 |
Notes
- For further details of relevant developments prior to this, please refer to our Deloitte Global section.
- Newly issued, amended or revised IFRSs are part of Canadian GAAP only after they are approved by the Accounting Standards Board in accordance with its due process.
The above summary does not include details of consequential amendments made as the result of other projects.
Related Interpretations
Related IFRIC Agenda Rejection Notices
- None
AcSB’s IFRS Discussion Group meetings
- May 30, 2017 - IAS 20, IAS 37 and IAS 38: Cap and Trade Program
